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Agreeing to Fraud-- Or an Admission in sale of stream of payments from pension
If this is one of those companies where they lend money in exchange for the stream of payments from Calpers, you should check the loanactory in terms of disclosures, truth in lending, etc.
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
causeylaw@gmail.com
714-375-6663
714-908-7646 (fax)
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I have a consult this afternoon with someone who pledged their CALPERS pension in order to receive a lump sum.
The 2 following paragraphs are in the purchase agreement for the cash flow from the pension:
4.2 The obligations created by this Agreement shall be excluded from Pensioner's bankruptcy estate should Pensioner file for bankruptcy during the term of this Agreement, and/or criminal action against Pensioner.
4.3 Pensioner understands that any violation of the representation in this Section 4 will result in the perpetration of fraud, which could result in damages against the Pensioner in favor of Buyer.
QUESTION: Does this amount to an admission under 11 U.S.C. 523(a)(2)? Or is it merely an agreement?
Thank you.
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 1
>( Fax (562) 485-6886
>* sblever@leverlaw.com
> www.leverlaw.com
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I have a consult this afternoon with someone who pledged their CALPERS pension in order to receive a lump sum. The 2 following paragraphs are in the purchase agreement for the cash flow from the pension: 4.2 The obligations created by this Agreement shall be excluded from Pensioner’s bankruptcy estate should Pensioner file for bankruptcy during the term of this Agreement, and/or criminal action against Pensioner. 4.3 Pensioner understands that any violation of the representation in this Section 4 will result in the perpetration of fraud, which could result in damages against the Pensioner in favor of Buyer. QUESTION: Does this amount to an admission under 11 U.S.C. 523(a)(2)? Or is it merely an agreement? Steve Law Offices of Steven B. Lever> > Steven B. Lever>( Tel. (562) 436-5456 ext. 1>( Fax (562) 485-6886>* sblever@leverlaw.com> www.leverlaw.com> ******************************************************> This Internet e-mail contains confidential information> which is intended only for the addressee and which may> be privileged under applicable law. Do not read, copy> or disseminate it if you are not the addressee. If you> have received this message in error, please notify the> sender immediately and delete it. Thank you.> ******************************************************
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